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Daily Dispatches

Alasdair Macleod: Value destruction as the financial bubble collapses

Section: Daily Dispatches

By Alasdair Macleod
GoldMoney, Toronto
Thursday, April 21, 2022

In recent articles I have argued that the era of a financialised fiat dollar standard is ending. This article takes my hypothesis further and explains that it is not just the emergence of new commodity backed currencies in Asia that will threaten the dominance of Western currencies, but the Federal Reserve's failing monetary policies and those of the other major central banks. 

An unstoppable rise in interest rates will in large part be responsible for their demise.

Ronan Manly: Where are Russia's gold reserves stored?

Section: Daily Dispatches

12:39p ET Thursday, April 21, 2022

Dear Friend of GATA and Gold:

Bullion Star researcher Ronan Manly today delves into Russia's gold reserves to determine their locations and the amounts at each location and concludes that not much more can be established than that they are vaulted in Moscow, St. Petersberg, Yakaterinburg in the Urals -- and maybe elsewhere in the country.

Manly adds that Russia also may be holding gold outside the country, though probably not with traditionally unfriendly countries.

... Dispatch continues below ...

Sahara solar could soon rescue Britain's broken energy system, replacing OPEC and Russia

Section: Daily Dispatches

By Ambrose Evans-Pritchard
The Telegraph, London
Wednesday, April 20, 2022

Within five years, the world's longest undersea cable will link Devon to a vast territory of solar panels in the Sahara Desert, supplying electricity directly into Britain's grid at a fraction of today's power prices.

A second cable will land two years later in 2029. Together they will provide 3.6 gigawatts of constant baseload power, equivalent to two Hinkley-sized nuclear reactors. The difference is that we will be able to afford it. That, at least, is the plan.

Israel adds yuan, reduces dollar and euro in 'philosophy' change for FX reserves

Section: Daily Dispatches

By Daniel Avis
Bloomberg News
Wednesday, April 20, 2022

Israel's central bank has made the biggest changes to its allocation of reserves in over a decade, adding the Chinese yuan alongside three other currencies to a stockpile that last year exceeded $200 billion for the first time ever. 

GATA's Ed Steer discusses London nickel default and Fed's awful choice

Section: Daily Dispatches

12:48p ET Monday, April 18, 2022

Dear Friend of GATA and Gold:

GATA board member Ed Steer, publisher of Ed Steer's Gold and Silver Digest, was just interviewed by Wall Street Silver, discussing the default of the London Metals Exchange's nickel contract, the implications of that default for silver and other metals, and the awful choice facing the Federal Reserve -- hyperinflation vs. depression.

The interview is 17 minutes long and can be heard at YouTube here:

Financial letter writer, gold advocate James Dines dies

Section: Daily Dispatches

From The Dines Letter, Belevedere, Califnrnia
Tuesday, April 19, 2022

Dear Subscribers:

It is with great sadness that we announce the passing of Mr. Dines at his home in California last week. 

Mr. Dines was not only wonderful to work for but gracious and generous with his wisdom. We are grateful that he had a long, productive, and fulfilling life, which he willingly shared with all of us. 

Eric Sprott makes his biggest bet yet on what could be 'the greatest gold discovery in Canada'

Section: Daily Dispatches

The billionaire, who was an early backer of what became one of the world's largest gold miners, says this one is even bigger.

* * *

By Gabriel Friedman
National Post / Financial Post, Toronto
Monday, April 18, 2022

Bay Street legend Eric Sprott, who became a billionaire betting on gold and silver, just made his biggest investment yet in a precious metals exploration company.

Craig Hemke at Sprott Money: Watching the silver futures calendar

Section: Daily Dispatches

5:40p ET Monday, April 18, 2022

Dear Friend of GATA and Gold:

Craig Hemke of the TF Metals Report, writing today at Sprott Money, cautions that the "trade at settlement" mechanism for silver futures price suppression will be especially active in the next week.

Gold manipulation is a big part of financial journalist Lars Schall's new book

Section: Daily Dispatches

5:30p ET Monday, April 18, 2022

Dear Friend of GATA and Gold:

Gold market manipulation figures heavily in the new book by the German financial journalism Lars Schall, "Notes on Recent World History -- Essays on God, Money, and Power."

For the moment the book is available only in German:

Jan Nieuwenhuijs: France has repatriated all its monetary gold

Section: Daily Dispatches

10:30a ET Sunday, April 17, 2022

Dear Friend of GATA and Gold:

France, which long has recognized gold's enduring monetary functions, appears to have repatriated all its gold from foreign vaults in support of its longstanding objective of turning Paris into a gold trading center associated with the Banque de France, gold researcher Jan Nieuwenhuijs writes this week. The French central bank, Nieuwenhuijs writes, has been steadily increasing its facilities for gold trading.